According to a release issued by the U.K. Financial Conduct Authority (FCA) on Thursday, many crypto companies might be preparing to exit the region over their inability to meet AML requirements. The regulatory agency wrote:
This is not the first time the agency’s policy is hitting hard on crypto businesses. Back in January, the FCA implemented its ban on the sales of crypto derivatives to retail consumers. Also in January, the FCA became the AML watchdog for U.K.’s crypto market, effectively mandating a compulsory business registration for all crypto firms operating in the country.
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Source: Cryptocurrency - investing.com
